Macfarlane Group PLC
LSE:MACF
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Macfarlane Group PLC
Macfarlane Group Plc engages in the design, manufacture and distribution of protective packaging products and labels to business users. The firm services a range of business customers by supplying them protective packaging. The Company’s segments include Packaging Distribution and Manufacturing Operations. Its Packaging Distribution segment is involved in the distribution of a range of protective packaging products in the United Kingdom. Its Manufacturing Operations segment designs and produces protective packaging for high value and fragile products. The firm distributes and manufactures across a range of sectors, including retail e-commerce, consumer goods, food, logistics, mail order, electronics, defense, automotive and aerospace. The firm supplies its products to customers principally in the United Kingdom and Europe.
Macfarlane Group Plc engages in the design, manufacture and distribution of protective packaging products and labels to business users. The firm services a range of business customers by supplying them protective packaging. The Company’s segments include Packaging Distribution and Manufacturing Operations. Its Packaging Distribution segment is involved in the distribution of a range of protective packaging products in the United Kingdom. Its Manufacturing Operations segment designs and produces protective packaging for high value and fragile products. The firm distributes and manufactures across a range of sectors, including retail e-commerce, consumer goods, food, logistics, mail order, electronics, defense, automotive and aerospace. The firm supplies its products to customers principally in the United Kingdom and Europe.
Revenue Growth: Revenue increased by 13.1%, mainly driven by acquisitions, while organic sales declined by about 1% due to price deflation and weak demand.
Profit Decline: Adjusted operating profit fell by 22% as weaker margins and higher costs offset the revenue growth.
Margin Pressure: Gross margin dropped from 39.7% to 37.8% due to slower price recovery, competitive pricing, and input cost pressures.
Cost Increases: Operating expenses rose, with notable impacts from higher labor, property, and project-related costs.
Improved H2 Outlook: Management expects stronger performance in the second half, citing seasonal uplift, new business wins, and cost controls.
Guidance: Full-year results are expected to be in line with the recent market update.
Stable Dividend: The interim dividend was held at GBP 0.96 per share, with a 2.4x cover.
Capital Allocation: Ongoing share buyback program prioritized over new M&A until 2026.
